I am co-owner of an I bond with my mother - her name is first on the ond with her SSN - my name is second. Question - if I cash the bond and deposit it into my bank account, Who is responsible for the taxes on the interest earned ?I called a few local banks and some tell me I must pay taxes on the interest and others tell me my mother has to pay taxes on the interest even if I deposit the full value of the bond into my bank account.Can anyone clear this up ?Thanks.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Ma